Coralogix Raises $142M Series D Funding

Coralogix has announced that it has raised a $142 million Series D funding round, bringing the company’s total amount raised to $238 million. A significant portion of the round’s proceeds will be used to fund the company’s expansion plans, particularly it’s India and APAC go-to-market teams. Additionally, the funds will be used to accelerate the development and launch of Snowbit, its recently announced cybersecurity venture based in India and Israel.

New investors Advent International ‘Advent’ and Brighton Park Capital co-led the round with participation from Revaia and existing investors Greenfield Partners, Red Dot Capital Partners, Eyal Ofer’s O.G. Tech, StageOne Ventures, Joule Capital Partners, and Maor Investments. In connection with the funding round, Alek Ferro of Advent and Mike Gregoire, Partner at Brighton Park Capital and former CEO at CA Technologies, has joined the Coralogix board of directors.

This announcement reflects Coralogix’s evolution from a log analytics platform to a full-stack observability platform, with robust metrics, tracing, and security data capabilities in addition to logs. The company’s flagship Streama technology generates real-time insights and trend analysis for all observability data without requiring storage, overcoming the challenges of building, running, and securing modern infrastructures and applications. Clients can search Terabytes of their own data in seconds, all without the costs and latency of indexing.

With data rising at an exponential rate, DevOps, Engineering, and Security teams must be able to ingest this data while also having all related insights on a centralized platform. Coralogix is a full-stack observability platform that gives limitless insights for logs, metrics, tracing, and security data when and where users require them.

The platform alters the unit economics of observability, with current spending as high as 10 percent of total cloud infrastructure budgets, allowing clients to save 40-70 percent while enhancing performance and data insights. Furthermore, Coralogix provides unparalleled 24/7 in-app chat assistance with response speeds of less than one minute.

The announcement follows Coralogix’s unprecedented growth. In the last year, the company has signed some of the most successful hypergrowth and enterprise customers in the US, Israel, India, and EMEA. Coralogix’s customer base in India has tripled in the last year, with marquee customers in eCommerce, financial services, messaging, media & entertainment, logistics, and educational services.

The company also entered the security market with the launch of Snowbit, a cybersecurity venture aimed at assisting cloud-native businesses in comprehensively managing the security of their environments. Snowbit has operations in Tel Aviv and New Delhi/Gurgaon and is unique in that it is the first cybersecurity initiative to leverage the best of Israeli cybersecurity talent as well as India’s unique growing position as a global cybersecurity hub.